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Mechanical Ventilators Market Size
Mechanical Ventilators Market size was valued at more than USD 3.1 billion in 2023 and is projected to record over 2.4% CAGR from 2024 to 2032. Increasing prevalence of chronic respiratory illnesses to propel industry expansion.
High prevalence of chronic respiratory disorders is one of the main factors driving product demand. Chronic respiratory disease is one of the main causes of death worldwide. Moreover, around 15 million Americans were forecasted to have chronic obstructive pulmonary disease in 2020, with this number likely to rise over the coming years.
Gradual growth in the patient population and hospitalization rate will raise the demand for mechanical ventilators. The invasive and noninvasive positive pressure delivered by these ventilations for COPD exacerbation has increased product uptake in several healthcare facilities. It is projected that the clinical benefits provided by mechanical ventilators for the diagnosis, treatment, and mitigation of chronic respiratory illnesses will boost equipment deployment.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 3.1 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 2.4% |
| 2032 Value Projection: | USD 3.4 Billion |
| Historical Data for: | 2018 to 2023 |
| No. of Pages: | 483 |
| Tables, Charts & Figures: | 923 |
| Segments covered: | Product, Interface, Ventilator Type, Application, Mode, End-use, and region. |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Risk associated with the use of mechanical ventilators could impede mechanical ventilators market progress
Mechanical ventilators are one of the crucial medical tools used in the diagnosis and treatment of chronic diseases as well as in life-threatening medical situations. However, risks and difficulties related to these medical devices might have a negative impact on patients. Acute respiratory distress syndrome (ARDS), sepsis, ventilator-associated pneumonia (VAP), atelectasis, and pulmonary edema are a few of the risks linked to mechanical ventilation. To reduce these risks, companies are working to develop advanced equipment. For instance, in 2023, Getinge recently launched a new ventilator that claims to offer lung protection to adults and pediatric patients.
Mechanical Ventilators Market Analysis
Mechanical ventilators market share from the intensive care ventilators segment is predicted to reach over USD 2.7 billion by 2032. Intensive care ventilators are used for treating and monitoring patients in the ICU. These ventilators are designed to support patients suffering from breathing problems. Several clinical advantages offered by these ventilators in cases of acute respiratory failure, impaired lung functions, and breathing-related issues would dramatically increase product demand. The development of novel technology or advanced ventilation support will stimulate market outlook.
Based on ventilator type, the mechanical ventilators market is bifurcated into adult ventilators, neonatal ventilators. Adult ventilators segment is expected to cross USD 3.1 billion by 2032. The enormous patient pool with asthma and chronic obstructive pulmonary disease (COPD) along with the changing lifestyle is increasing the deployment of adult ventilators. For instance, the data from the House of Commons Library (UK Parliament) shows that in 2021 nearly 1.2 million people in the UK were diagnosed with COPD, making up roughly 1.9% of the nation’s population.
Ventilators used to diagnose and treat these conditions in adults include built-in compressors, automated humidification, data monitoring, and invasive/non-invasive ventilation systems. The clinical benefits provided by adult ventilators during complicated surgical procedures and the treatment of chronic illnesses will propel market development.
Mechanical ventilators market from the hospital segment is anticipated to record more than 1.5% CAGR from 2023 to 2032 as they have modern and improved infrastructure and equipment. There is high availability of a variety of ventilators for adult and pediatric patients that incorporate cutting-edge technology for people undergoing surgical procedures. Increasing patient admissions with chronic respiratory disorders, growing disease awareness initiatives and availability of highly skilled healthcare practitioners are some aspects that are fueling segment growth.
Europe mechanical ventilators market size is anticipated to surpass USD 720 million by 2032 due to a high awareness of chronic illnesses and critical or emergency care devices like homecare ventilators. Recently, the European Chronic Disease Alliance launched the Healthier Together program with the goal to go chronic disease-free by the end of this decade. Apart from this, many product manufacturers are concentrating on business expansion plans across European country will stimulate industry share.
Mechanical Ventilators Market Share
Some of the major players in the global mechanical ventilators market include
- Fisher & Paykel Healthcare Limited
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Medtronic plc
- Koninklijke Philips N.V.
- Air Liquide
- Getinge AB
- General Electric Company
- Smiths Group plc
Companies are working on the development of new products using advanced technology. For instance, in May 2022, Fisher & Paykel Healthcare Corporation Limited declared the release of the Airvo 3 high-flow system. This device offers wider settings for pediatric and neonatal patients, an integrated battery, a user-friendly interface, tailored oxygen delivery, and a higher maximum flow rate. The company was able to grow its customer base and obtain a competitive advantage over its rivals thanks to this planned launch.
Impact of COVID-19 Pandemic
The COVID-19 pandemic had positively impacted the mechanical ventilators industry. In order to stop infections caused by the coronavirus, there was a huge increase in demand for mechanical ventilators in COVID-19 treatment. The intensive care unit required mechanical breathing in about 50% of instances, according to study findings from Johns Hopkins University. The CDC Strategic National Stockpile (SNS) in the United States was maintaining and storing mechanical ventilators that may be accessed on demand through appropriate networks in order to satisfy the enormous demand. Rising cases of COPD post the pandemic would reinforce the demand for mechanical ventilators.
Mechanical ventilators market research report includes an in-depth coverage of the industry with estimates & forecast in terms of USD Million and Units from 2018 to 2032, for the following segments:
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By Product
- Intensive Care Ventilators
- High-end
- Mid-end
- Basic-end
- Portable Ventilators
By Interface
- Invasive Ventilation
- Non-invasive Ventilation
- CPAP
- BiPAP
- APAP
- Others
By Ventilator Type
- Adult Ventilators
- Neonatal Ventilators
By Application
- Resuscitation
- Homecare Applications
- Emergency/Transport
- Sleep Apnea Therapy
- Anaesthesiology
- Clinical Applications
- Others
By Mode
- Combined Mode Ventilation
- Control Mode Ventilation
- Pressure Mode Ventilator
By End-use
- Hospitals
- Ambulatory Surgical Centers
- Homecare
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Poland
- Switzerland
- Sweden
- Netherlands
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Chile
- Colombia
- Peru
- MEA
- Saudi Arabia
- Iran
- UAE
- Egypt
- South Africa
- Israel
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